Credit Union Revenue Producing Services
The Connecticut Department of Banking conducted a year-end 2005 survey of state-chartered credit unions to determine what types of fee-producing services are being provided to consumers. Services offered by credit unions or their subsidiaries were included in the survey.
We are pleased to report a 100% response rate to the survey requests. Follow the link below to view the survey results in detail.
Credit unions, all together, offered a total of 46 various revenue producing services to their members. Fifteen various revenue producing services were offered through subsidiaries.
Consumer loans were the most commonly offered service, provided by 75% of respondents.
75% of respondents offered consumer lending/personal loans, a 10% increase from 2004, while 61% offered home equity loans, a 10% decrease from 2004.
The number of institutions offering signature loans has decreased 28%, from 29 in 2004 to 21 in 2005.